LatentZero as a Service “goes beyond standard hosted or ASP (application service provider) products by providing a fully managed end-to-end service, and enables asset managers of all sizes to access the best available products for compliance, order and execution management and decision support across all asset classes, with substantial reductions in the total cost of ownership,” the company explained.
“The Software as a Service model will become the dominant model for delivery of front office solutions to the buy-side over the next few years,” said Richard Jones, CEO of Fidessa LatentZero. “We have already experienced this with the sell-side area of our business where over 90% of our customers use SaaS for Fidessa’s trading platforms.”
The difference between the new SaaS model and Fidessa’s enterprise (installed and operated at client site) model is that the fees for LatentZero as a Service include server hardware, operating system, database license, hosting, data management, training and upgrades, according to a company spokesperson.
The service is delivered from dedicated and wholly owned hardware located in Fidessa’s eight data centers in North America, Europe, Asia and Japan.
With the SaaS model, “firms can outsource the running of their front office technology to the company who designed and built it, freeing them to concentrate on their core business,” added Jones.
This article can also be found at SecuritiesIndustry.com.
Alexa Jaworski is senior editor of Securities Industry News, a SourceMedia publication. She can be reached at alexa.jaworski@sourcemedia.com.
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